PDT Partners LLC Buys Shares of 7,763 OGE Energy Corp. (NYSE:OGE)

PDT Partners LLC bought a new stake in OGE Energy Corp. (NYSE:OGE) during the third quarter, HoldingsChannel reports. The institutional investor bought 7,763 shares of the utilities provider’s stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Jane Street Group LLC lifted its stake in shares of OGE Energy by 147.5% during the 1st quarter. Jane Street Group LLC now owns 205,958 shares of the utilities provider’s stock valued at $7,064,000 after buying an additional 122,750 shares in the last quarter. Comerica Bank lifted its stake in shares of OGE Energy by 0.7% during the 1st quarter. Comerica Bank now owns 113,228 shares of the utilities provider’s stock valued at $3,884,000 after buying an additional 817 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of OGE Energy by 235.7% during the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock valued at $1,989,000 after buying an additional 40,710 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of OGE Energy by 207.4% during the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider’s stock valued at $763,000 after buying an additional 15,017 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of OGE Energy by 130.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 9,425 shares of the utilities provider’s stock valued at $320,000 after buying an additional 5,344 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $42.84 on Wednesday. The company’s fifty day moving average price is $41.58 and its 200-day moving average price is $39.05. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 3.86 and a beta of 0.77. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. OGE Energy’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.20 EPS. On average, equities research analysts anticipate that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.93%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by insiders.

Analysts Set New Price Targets

OGE has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Evercore ISI upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays upped their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.50.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.